NEWS
- August 17, 2021
Abu Dhabi National Oil Company (ADNOC) has awarded an EPC contract to Robt Stone for the expansion of the Al Nouf oilfield, the NOC announced on Monday.
ADNOC plans…
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BACK TOCOMPANIES
OPEC
H.E. Mohammad Sanusi BARKINDO
Secretary General
OPEC
OPEC remains fully engaged and supportive of the UNFCCC and the Paris Agreement.
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A fine balance
OPEC is an international organisation that was established in Baghdad in September 1960. Today it is headquartered in Vienna, Austria. It co-ordinates and unifies the petroleum policies of its members. OPEC sets production targets for its member nations and is an important factor affecting global oil prices. Iran is one of the five founding members of the organisation.
- Leadership: OPEC’s secretary-general is Haitham Al-Ghais a Kuwaiti oil official who is a veteran fo the industry.
- Members: Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Republic of Congo, Saudi Arabia, the UAE, Venezuela
OPEC+, a designation that adds 10 non-OPEC members including Russia, reached a deal in September 2016 to cut approximately 1 million bopd of production. The deal was extended several times and deepened to 7.7 million bopd for August-December 2020.
Company website: www.opec.org
OPEC in figures
Years active as of 2020:60
Number of member states:13
OPEC features
Interview
Kuwait - August 13, 2024
H.E. Haitham Al Ghais of OPEC talks about adjusting oil supply to foster stability in global markets.
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Interview
Kuwait - August 08, 2024
Kuwaiti Minister of Oil H.E. Imad Al Atiqi talks about the pillars of the ministry’s 2024-2028 roadmap for Kuwait’s oil…
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Interview
Kuwait - August 01, 2024
Anar Aliyev of bp talks about bp’s long-standing commitment to Kuwait’s hydrocarbons sector.
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Partnered Event
Azerbaijan - June 4-6, 2024
The Baku Energy Week encompasses three prestigious events: the 29th International Caspian Oil and Gas Exhibition - Caspian…
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NEWS
Multinational - August 13, 2021
Oil was down Friday morning in Asia as concerns over the spread of Covid-19 globally continue to cloud the fuel demand outlook.
Brent oil futures were down 0.57% to…
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Interview
Nigeria - August 10, 2021
Engr. Sarki Auwalu, director and CEO of the Department of Petroleum Resources (DPR), talks to The Energy Year about how DPR is ensuring Nigeria’s marginal fields are…
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NEWS
Multinational - July 19, 2021
Oil was down Monday morning in Asia, with prices falling more than 1%. Investors continued to digest the Organization of the Petroleum Exporting Countries and allies…
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Interview
Nigeria - July 14, 2021
Woji Weli, country business unit manager of BW Offshore Nigeria, talks to The Energy Year about the reasons for the rapid growth of deepwater oil extraction off Nigeria…
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NEWS
Multinational - July 14, 2021
Oil was down Wednesday morning in Asia, after data showing that China’s crude imports dropped in the first half of 2021 triggered fuel demand concerns. However, the…
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NEWS
Multinational - July 12, 2021
Oil was down, but little changed, Monday morning in Asia. Supplies remained tight as key producers continue to disagree on whether to increase output from August…
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NEWS
Multinational - July 08, 2021
Shares of energy companies were weaker Thursday as worries over global economic growth come back in the face of a raging Delta variant.
Chevron (NYSE:CVX), Exxon…
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Interview
Egypt - July 07, 2021
Amr Farrag, chairman of Saknafta Petroleum Services, talks to The Energy Year about managing the impact of Covid-19, the best approach to developing Egypt’s…
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